Open AccessEFFECTS OF NATURAL MONOPOLIES ON THE NATIONAL ECONOMY
Author(s) -
G.S. ogly Huseynov
Publication year - 2020
Publication title -
vestnik ugntu. nauka, obrazovanie, èkonomika. seriâ èkonomika
Language(s) - English
Resource type - Journals
ISSN - 2541-8904
DOI - 10.17122/2541-8904-2020-3-33-123-131
Subject(s) - natural monopoly , business , population , natural resource , economics , market economy , industrial organization , natural resource economics , monopoly , economic system , ecology , demography , sociology , biology
In current situation, the widespreading of the COVID-19 pandemic in the world has had a significant impact on the socio-economic development of our country. To minimize the effects of this impact, it is necessary to restore the country's strong economic potential through the efficient use of the country's existing natural and labor potential. In such situation the focus should be on improving the functioning of natural monopolies and adapting them to changing market requirements. Natural monopolies play a special role in the formation and dynamic development of the market economy, enriching the domestic market with products based on local raw materials, improving the living standards of the population, creating new jobs and increasing the level of employment and solving other socio-economic problems. Natural monopolies in Azerbaijan exist mainly in the areas of heat and electricity transmission, natural gas and oil pipelines, railway transport, ports, terminals and airport services. Prices for products in this area are also objects of state regulation. Regulation of prices for natural monopolies is important in solving the country's social and economic problems, increasing the competitiveness of products produced in the national economy and the sustainable development of the country as a whole.Therefore, there is a need to analyze the specifics and mechanisms of state regulation of the activities of natural monopolies. In solving all these problems, there is a special need to pay constant attention to the organization of the activities of natural monopolies in terms of modern requirements, to increase their production capacity and thus to determine their impact on the national economy. The mentioned features show the relevance of the topic of the article.